The Indian market began the holiday-truncated week on a positive note, following strong gains in the European and Asian market a day earlier. The BSE Sensex opened at 18,360, up 71 points and the Nifty opened at 5,585, up 21 points.
Most global markets rallied on Monday after China’s central bank cut reserve requirements for lenders and European leaders were on the brink of a debt deal to avert Greece from defaulting.
Asian stocks and the euro faltered on Tuesday, as a rally that had been driven by expectations of a second bailout package for Greece ran out of steam with a deal still not quite sealed.
MSCI's broadest index of Asia Pacific shares outside Japan and Tokyo's Nikkei share average both inched down 0.1 per cent on Tuesday.
Back home, BSE Capital Goods, Metal, Realty indices are leading the gains, up 1-2% each. FMCG, Oil & Gas and Bankex shares are alsp trading in the green.
BSE Consumer Durables and IT indices hace shed nearly 1% each.
BHEL, Tata Steel, Hindalco Industries, Larsen & Toubro and SBI, up 2-4% each, are the prominent gainers on the Sensex. The losers from the pack are TCS, Wipro and Infosys, down 1-2% each. NTPC and Bajaj Auto are down marginally.
The overall market breadth is positive as 991 stocks have advanced against 359 declining ones, on the BSE.